Everything You Need to Know About Financing

If you’re financing a used car, it’s helpful to understand what may impact your approval. When you meet with one of our trusted Sales Consultants, they will walk you through each factor, so you can make informed and confident choices.

Down Payments

A down payment is how much you pay at the time of purchase. The higher the down payment, the lower your monthly payments.

Your monthly payments could be lower, depending on the term and interest.

You may pay less interest.

You could improve your ability to qualify for financing.

TIP: If you trade in your car, you may be able to use the amount you receive for it as your down payment. See how much it’s worth.

Credit Score

Your credit score plays a role in determining your auto financing options. Typically, those with high credit scores will be offered better terms and lower rates. Credit scores range between 850 and 300 and are determined by your credit and payment history.

Possibly. Different lenders will offer different rates, so shop around for the best ones. Also, work to increase your credit score by paying down debt and making on-time payments. Enterprise offers great financing options for first-time buyers and college graduates who lack credit history.

Sometimes. Credit card companies and dealerships often have policies about credit card use for car purchases. For example, dealerships may allow only part of the purchase to be made by credit card, such as the down payment. It’s best to check directly with your credit card company and dealership.

Federal law allows you to obtain one free credit report each year from each of these three companies: Experian, Equifax and TransUnion. Your bank or credit card may also provide you with a free credit report.

Financing Term

Most lenders offer payment plans between 36 and 72 months. Short-term contracts can offer better rates but come with higher monthly payments. Long-term contracts may mean smaller monthly payments, but ultimately result in you paying more money over time.

Loan vs. Financing

Though they may seem like the same thing, there is a difference between car loans and car financing. Car loans are set up directly between you and a bank, finance company, or credit union. Conversely, you may apply for financing through a dealership. The dealer will sell your financing contract to a bank, finance company, or credit union, who will service your account.

Lending Options

Different lenders offer various rates, terms, and advantages. We can help you find one that’s right for you.

Used vehicles were previously part of the Enterprise rental fleet and/or an affiliated company’s lease fleet or purchased by Enterprise from sources including auto auctions, customer trade-ins or from other sources, with a possible previous use including rental, lease, transportation network company or other use.

Terms & Conditions

1

Price includes all costs to be paid by a consumer, except for licensing costs, registration fees, and taxes; also not included are title registration, tag, governmental fees, electronic filing charges (excluding CO), any emissions testing and/or state inspection fees, transfer fee, and any finance charges (if applicable). Price does not include processing, administrative, dealer conveyance fee, closing, dealer and handling, or similar fees of $199 or less, except in the following states where the advertised price is inclusive of this fee: CO, FL, GA, KY, MA, NE, NJ, NY, SC, and TN. In WA state, a documentary service fee in an amount up to $150 may be added to the purchase price or capitalized cost. Vehicles subject to prior sale. We make every effort to provide accurate information including but not limited to price, miles and vehicle options, but please verify with your local Enterprise Car Sales location before purchasing. Current mileage may vary due to test drives and vehicle relocation. Used vehicles were previously part of Enterprise short-term rental and/or lease fleet or purchased by Enterprise from other sources including auto auctions, with previous use possibly short-term rental, lease or other.

2

EPA fuel economy ratings are provided by the vehicle manufacturer and may vary with vehicle use, condition and driving habits.

3

Payment based on amount financed for month term APR chosen when customer estimated payment using the site calculator. These calculators are for educational purposes only. Calculator results do not include tax, title, tags, governmental fees, and emissions testing charges. Calculator results does not include processing, administrative, closing, dealer and handling, or similar fees of $199 or less, except in the following states where the advertised price is inclusive of this fee: CO, FL, GA, KY, MA, NE, NJ, NY, SC, and TN. Terms do not necessarily represent actual available credit terms. We do not guarantee the accuracy of the credit figures, or their applicability to your circumstances. We encourage you to seek advice from qualified financial service professionals regarding all your personal finance needs. We encourage you to seek advice from qualified financial service professionals regarding all your personal finance needs.

Terms & Conditions

1

Price includes all costs to be paid by a consumer, except for licensing costs, registration fees, and taxes; also not included are title registration, tag, governmental fees, electronic filing charges (excluding CO), any emissions testing and/or state inspection fees, transfer fee, and any finance charges (if applicable). Price does not include processing, administrative, dealer conveyance fee, closing, dealer and handling, or similar fees of $199 or less, except in the following states where the advertised price is inclusive of this fee: CO, FL, GA, KY, MA, NE, NJ, NY, SC, and TN. In WA state, a documentary service fee in an amount up to $150 may be added to the purchase price or capitalized cost. Vehicles subject to prior sale. We make every effort to provide accurate information including but not limited to price, miles and vehicle options, but please verify with your local Enterprise Car Sales location before purchasing. Current mileage may vary due to test drives and vehicle relocation. Used vehicles were previously part of Enterprise short-term rental and/or lease fleet or purchased by Enterprise from other sources including auto auctions, with previous use possibly short-term rental, lease or other.

2

EPA fuel economy ratings are provided by the vehicle manufacturer and may vary with vehicle use, condition and driving habits.

3

Payment based on amount financed for month term APR chosen when customer estimated payment using the site calculator. These calculators are for educational purposes only. Calculator results do not include tax, title, tags, governmental fees, and emissions testing charges. Calculator results does not include processing, administrative, closing, dealer and handling, or similar fees of $199 or less, except in the following states where the advertised price is inclusive of this fee: CO, FL, GA, KY, MA, NE, NJ, NY, SC, and TN. Terms do not necessarily represent actual available credit terms. We do not guarantee the accuracy of the credit figures, or their applicability to your circumstances. We encourage you to seek advice from qualified financial service professionals regarding all your personal finance needs.

Terms & Conditions

Enterprise Car Sales - We Transfer Cars

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Please note the time it takes to transfer a non-local vehicle varies by distance.